The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-07-16
DUN'S REVIEW OF TRADE.
THE EXPORTS FOR JUNE MUCH
LESS THAN LAST YEAR.

Fifty Million Bushels of Wheat to be
Carried Over-The Depression in Se-
curities Possibly Explained in Part
by the Heavy Investments in Realty
The Failures of the Week.
NEW YORK, July 15.-R. G.. Dun &c
Co.'S weekly review of trade says: The
exports of breadstuffs, cotton, animals and
animal products and petroleum in June
We're valued at S32, ,66S,277 against S3s, $685.
224 for the same month last year. Bread
stuffs increased 81, 300 900 and cattle 81, no.
600 Cotton increased 5000, 900, provisions
100000 and oil 1914, 900. With other ex-
ports as last year the aggregate for june
would be S50,000,000 against 80, 10000 Of
imports, making an excess of imports for
three months Of S40,O0O,OO0 Cotton &C.
counts for sos, 900, 900 of this loss and recent
failures indicate that this speculation was
not wiser than the one on wheat.
wHEAT's TUMBLE.
The unloading of those who bought wheat
after Kershaws failure has depressed No. 3
red here to S216c., a fall of over 4c. for the
week and 24l6c since June 80 with exports
of 1873, ,620, 900 bushels for the past year. The
stock carried over includes 100000
bushels Visible supply 5000, 900 bushels in
California, and certainly 10, 900 900 in far
mers hands, besides all the flour on hand,
facts which establish the correctness of the
estimates made months ago that the surplus
would exceed 5000, 900 bushels.
THE STOCK MARKET
In spite of railroad earnings, which
gained Is per cent. in June, and encour-
aging assurances by prominent men, and
continued proof that the interstate act Ia
not to be so construed by the courts as TO do
all the harm apprehended, the price OF
| stocks has been lower. The market de-
| pends not upon values, or earnings, but
| upon individual notions as to the question:
whether the famous lives deal" is merely
| undealt or a misdeal. 1t is a case of long
row of bricks on end. II one banker calls
a doubtful loan he fears that it will cause
other calls and topping over all along the
line. So everybody waits for the market,
and the market waits for the long-prom.
ised settlement" to materialize
So. WHERE THE MONEY HAS GONE
Why investors are not buying the, stats,
tics of new buildings and real estate may
explain. II the country has in six
months invested S400, ,000, 900 in new build
ings 500, 100000 more in developing
Southern manufactures and mines, besides
the cost of the buildings and as much more
in the rest of the country, and $l00,0 ,000
in new railroad buildings it cannot have an
unlimited subsidy to employ in lifting
the prices of securities. The cash outside ot
the Treasury and banks, with the deposits
amounted to 81, l42, 100000 a year ago or
S35 70 per capita, and now amount TO g.
$4,000, 900, or $37 20 per capita
PRESENT PRICES
The present prices of stocks, less the as,
sessments paid, are about per cent. higher
than a year ago. Pork is 33 per cent higher,
cotton 10 per cent. higher, coffee 98 per
cent, higher, pig iron ~ per cent. higher,
| steel rails 10 per cent. higher, wheat per
| cent. higher, corn per cent. lower, oil 9 per
cent. lower, and beef Is per cent. lower.
From all interior points the trade reports are
| favorable considering the season, and coll
lections fair Unusual activity in tobacco
is noted at Cincinnati
IRON STRONGER
The coke strike does not end at Pittsbura
| and iron is stronger. Western nail makers
are discussing the formation of pool, with
results yet unknown. The New York state
ment of the iron production is $4,000 tons
less for the half year than the Pittsburg
account, which would make the half years
consumption Of domestic and imported iron
and steel 4,25S, 900 tons, against $4,000
tons for the first half of 1886.
The Treasury has neither drawn from nor
added to the supply of currency during the
week, uilu Inc Silver recslpJo dU NeW IOIk
continue only IL per cent of the total. 10
is the belief of the Comptroller that the new
law regarding banks of reserve cities has
but little effect as yet, though the drain on
this centre for crop moving may for other
reasons be less than usual.
THE WOOL MARKET.
Some strinsency at Western points affects
the prices of wool, and the sales at Boston
are very light. Wool tricots are much de-
pressed, the sale of "A, 800 pieces being noted
at 421(c., against SIC. last year; and one
| house opens light weight cheviots at 81 25,
which were reduced to 81 81 last year. In
| the cotton branch Of dry goods prices were
well maintained
The business failures occurring through
out the country during last week number
for the United States 149 and Canada 30,
total of 179, against 15f last week and ISL
the week previous.